Ninety One UK Ltd Buys Shares of 1,329,819 StoneCo Ltd. $STNE

Key Points

• Ninety One UK Ltd has acquired 1,329,819 shares of StoneCo Ltd, valued at approximately $21.33 million, representing 0.46% ownership in the company.
• Several institutional investors increased their stakes in StoneCo significantly, with GAMMA Investing LLC's stake increasing by 1,486.3% in the first quarter.
• Analysts have raised price targets for StoneCo, with Bank of America increasing its target from $15.00 to $25.00, now labeling the stock as a "buy."

Ninety One UK Ltd acquired a new position in shares of StoneCo Ltd. (NASDAQ:STNE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,329,819 shares of the company's stock, valued at approximately $21,330,000. Ninety One UK Ltd owned 0.46% of StoneCo at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of StoneCo by 1,486.3% in the first quarter. GAMMA Investing LLC now owns 2,903 shares of the company's stock worth $30,000 after acquiring an additional 2,720 shares during the last quarter. CWM LLC grew its stake in StoneCo by 327.4% in the first quarter. CWM LLC now owns 3,154 shares of the company's stock valued at $33,000 after purchasing an additional 2,416 shares in the last quarter. Farther Finance Advisors LLC increased its position in StoneCo by 334.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,598 shares of the company's stock worth $42,000 after purchasing an additional 2,000 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of StoneCo by 143.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,614 shares of the company's stock worth $48,000 after purchasing an additional 2,715 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of StoneCo during the 1st quarter worth about $58,000. Hedge funds and other institutional investors own 73.19% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on STNE. JPMorgan Chase & Co. raised their price objective on shares of StoneCo from $15.50 to $18.50 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Zacks Research upgraded shares of StoneCo to a "strong-buy" rating in a research note on Tuesday, August 12th. Bank of America lifted their price objective on shares of StoneCo from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Wall Street Zen upgraded shares of StoneCo from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Finally, UBS Group increased their target price on shares of StoneCo from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, StoneCo currently has an average rating of "Moderate Buy" and an average price target of $16.56.

StoneCo Stock Performance

NASDAQ STNE opened at $18.19 on Thursday. The company's fifty day moving average is $16.16 and its two-hundred day moving average is $14.33. StoneCo Ltd. has a 52-week low of $7.72 and a 52-week high of $19.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -25.99, a P/E/G ratio of 0.39 and a beta of 1.99.

StoneCo (NASDAQ:STNE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. StoneCo had a positive return on equity of 18.71% and a negative net margin of 8.37%.The company had revenue of $643.82 million for the quarter, compared to analyst estimates of $3.78 billion. Equities research analysts forecast that StoneCo Ltd. will post 1.16 EPS for the current year.

StoneCo Company Profile

StoneCo Ltd. provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and sells solutions to brick-and-mortar and digital merchants through sales team.

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